Where Do I Enter Rental Activity Income For An S Corporation?
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An S corporation reports rental real estate activity on IRS Form 8825, Rental Real Estate Income and Expenses of a Partnership or an S Corporation.
This form is used for both the S corp's own rental activity as well as the rental income or loss reported to the S corp from another passthrough entity on Schedule K-1.
Entering the S corp's own rental real estate activity
To enter the S corp's rental real estate activity in Tax Processors Plus Desktop, from the Main Menu of the S corp tax return (Form 1120-S) select:
- Schedule K - Distributive Share Items
- Income (Loss)
- Net Income (Loss) from Rental Real Estate (Form 8825)
- Enter Rental Property - In the Form 8825 menu, click New and enter the property's information.
Entering the rental real estate income or loss from a partnership, or estate or trust
To enter the S corp's rental real estate activity reported on Schedule K-1 from another pass-through entity, from the Main Menu of the S corp tax return (Form 1120-S) select:
- Schedule K - Distributive Share Items
- Income (Loss)
- Net Income (Loss) from Rental Real Estate (Form 8825)
- Other Categories
- Net Gain/Loss from Rental R/E - Enter the sum of amounts reported on Schedule(s) K-1 (Form 1065) Box 2 and Schedule(s) K-1 (Form 1041) Box 7.
Additional Information: